Ault Alliance Announces Update on Dividend of Almost Seven Million Shares of Giga-tronics Common Stock to Its Stockholders
August 01 2023 - 5:30AM
Business Wire
Giga-tronics Advances Dividend Process with Filing of
Registration Statement
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance,” or the “Company”) announced
today that its majority owned subsidiary, Giga-tronics Incorporated
(OTCQB: GIGA) (“GIGA”) has filed an amended registration
statement on Form S-1/A with the U.S. Securities and Exchange
Commission (“SEC”) related to Ault Alliance’s previously
announced dividend of almost seven million shares of GIGA common
stock to its stockholders, which S-1/A also includes a selling
stockholders prospectus. The Company invites those interested in
learning more to read the registration statement at the following
link:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000719274/000121465923010514/gt725231s1a1.htm
Upon receiving notice of effectiveness of GIGA’s registration
statement and obtaining final regulatory approvals, the Company
will announce the record date and payment date of the planned
dividend.
Milton “Todd” Ault, III, the Company’s Executive Chairman,
stated, “The team at GIGA has successfully filed a registration
statement on Form S-1/A with the SEC, a pivotal step in advancing
with the previously declared spin-off of GIGA’s securities. We
recognize our stockholders have been patiently awaiting this
special stock dividend, and it is a pleasure to communicate the
headway we have made. The Company remains committed to expedite the
special dividend distribution as soon as possible following the
confirmation of the registration statement's effectiveness.”
For more information on Ault Alliance and its subsidiaries, Ault
Alliance recommends that stockholders, investors, and any other
interested parties read Ault Alliance’s public filings and press
releases available under the Investor Relations section at
www.ault.com or available at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, Ault
Alliance owns and operates a data center at which it mines Bitcoin
and colocation and offers hosting services for the emerging
artificial intelligence ecosystems and other industries, and
provides mission-critical products that support a diverse range of
industries, including metaverse platform, oil exploration, crane
services, defense/aerospace, industrial, automotive,
medical/biopharma, consumer electronics, hotel operations and
textiles. In addition, Ault Alliance extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.
Ault Alliance’s headquarters are located at 11411 Southern
Highlands Parkway, Suite 240, Las Vegas, NV 89141;
www.ault.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.ault.com.
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